How to retain and grow your customer base - Texn Rewards How to retain and grow your customer base - Texn Rewards
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Post Date: August 7, 2020

How to retain and grow your customer base

How to retain and grow your customer base

BY PAUL MITCHELL

Are you a retail salvage yard trying to improve customer retention and grow your customer base?   Do you often wonder how you can afford big brand marketing that creates customer loyalty and acquires new customers? Accomplishing these two objectives will improve overall sales growth and improve operational profitability of your business.

The 80/20 Rule

At Texn Rewards, we ascribe to the 80/20 rule.  I reviewed a Marketing Prof 2005 article from Matthew Syrett titled Do You Really Understand the 80/20 Rule?. This article looks at the unequal relationship between inputs and outputs.  It states that twenty percent of the invested input is responsible for eighty percent of the results obtained.  In a retail salvage yard, that might mean twenty percent of your customers could be responsible for about eighty percent of your sales.  

The 80/20 rule also applies to quality control with twenty percent of the defects causing eighty percent of the quality problems.  Not all defects are equal.  Just as you should put more effort into your most loyal customers, you should target your most harmful defects first when trying to solve      problems.

In short, work smarter, not harder.  By focusing on the relatively small parts of your business that deliver the most output, you can dramatically improve performance.

Here are a few questions:

#1:  What are you doing to retain and show appreciation to your most valuable customers so they become advocates of your business and help you get new customers?

#2:  What are you doing to get those customers back who have not returned in a while?

#3:  What are you doing to get new customers?

#4:  Do you have a system in place that does all of the above and provides you a detailed progress report on how your business is performing?

I will explain how you can utilize a mobile marketing system that will give you the needed edge. Attend my breakout session and I will show you one simple system that will be so easy that you will not believe it.  We deliver to businesses a big brand solution with a systematic approach that targets these three goals: 

#1:  Increase existing customers’ visit frequency with a VIP digital punch card system.  In addition, our JUST-IN Fresh Stock text notification system will also increase customer visits.

#2:  Target infrequent customers with automated engagement SMS text offers messages and transform them into more frequent shoppers.

#3:  Obtain new customers by loyal customers advocating your business through writing reviews when they earn a reward.  This organically grows your Google SEO results.  You can showcase these consolidated positive review streams on your base website.

With our mobile marketing system, we leverage the fact that SMS text messages are read 98% of the time within three minutes from being received because 92% of Americans keep their phones on and at arm length at all times.  

Salvage yards can implement our simple system to engage their customers with these four marketing categories:

#1:  Brand Content

#2:  Games

#3:  Offers & Coupons

#4:  Data Capture

Check out how we can ring your cash register and swing your door. Our systems will work with all retail self-service and full-service salvage yard operations. Our JUST-IN Fresh Stock text notification system works with U-PULL-IT yards.  Email us at info@texnrewards.com to learn more about how to grow your business!   

*Re-post from Recyclers Toolbox  

Paul Mitchell

Paul Mitchell

Paul is President and owner of Texn Rewards. In 2015, he began working with his first U-PULL-IT yard, Dos Amigos (GM:Rian Garner). Through Rian, he met S3 Software Solutions (makers of Crush): Bill Short and Dimitri Gerontis. Since that relationship formed, he has been helping many U-PULL-IT yards with VIP rewards, reviews, and JUST-IN Fresh Stock text notification systems. In 2016, he began working with a retail full service yard in Grand Prairie Texas (Farris Auto Salvage) with a VIP punch card system. Hence, our system works with any type retail full or self-service salvage yard. You can contact Paul:

Phone: 888-688-8492 x101 214-45-7285
5605 FM 423, STE 500-341 Frisco, TX 75036

paul@TexnRewards.com www.TexnRewards.com

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